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Procure-to-Pay Travel & Expense

Avoid “Maverick Spending” Waste – Blend “Trust but Verify” Balance with Analytics

on October 22, 2013

A recent survey of U.S. office workers revealed that a concept known as “maverick spending” is costing employers tens of thousands of dollars (and in some cases much more) annually.

When it comes to business expenses audits, there’s an interesting balance that companies must reach. If the expense systems (be that T&E or procurement) are hyper-controlling, they become an area of frustration for all employees. Further exceptionally restrictive systems drive employees to find ways to bypass the system entirely.  On the flip side, of course, an under-controlling system can allow too much abuse.

Companies should strike a “trust but verify” balance in their systems. Place appropriate but not overly restrictive controls in the systems and then implement a rigorous inspection of expenses using today’s advanced analytic capabilities. That way the employees doing the right thing aren’t being overly taxed by excessive controls and those employees that abuse the systems are identified where their behavior can be corrected.

Patrick Taylor

Patrick Taylor is an authority in the convergence of business analytics, information security, and the implementation of technology to boost organizational performance. An innovator in his field, Patrick founded Oversight Systems in 2003 and served as President and CEO for 15 years. In this role, he helped hundreds of Fortune 1000 companies improve financial, accounting, and auditing processes. Previously, Patrick held leadership positions with Oracle, Symantec, and Internet Security Systems (ISS). Patrick has a bachelor’s degree Mechanical Engineering from Georgia Tech and an MBA from the Harvard Business School.